Musk is expected to become the world’s first trillionaire in 2027, according to a new report from Wealth Tracker.
The Informa Connect Academy survey of the bosses of electric car maker Tesla, private rocket company SpaceX and social media platform X (formerly Twitter) stems from Musk’s wealth growing at an average annual rate of 110%. He is also the world’s richest person, with a fortune of $251 billion, according to the Bloomberg Billionaires Index, as the academy’s 2024 Trillion Dollar Club report began circulating on Friday.
Gautam Adani, founder of Indian business group, will become the second person to achieve trillionaire status, analysis by the academy suggests. According to reports, this will be achieved by 2028 if his annual growth rate remains at 123%.
Technology company Nvidia CEO Jensen Huang and Indonesian energy and mining tycoon Prajogo Pangestu could also become trillionaires by 2028 if their trajectories remain the same. LVMH Moët Hennessy Louis Vuitton boss Bernard Arnault is the third richest man in the world, with assets of approximately US$200 billion. His wealth is expected to increase by 2030 It exceeded one trillion U.S. dollars in 2016, and that same year was also the CEO of Meta, Mark Zuckerberg.
A handful of companies have been valued at more than $1 trillion. Berkshire Hathaway most recently reached its peak valuation in late August, just days before its architect, Warren Buffett, celebrated his 94th birthday. Nvidia joined the US$1 trillion club in May 2023 and reached US$3 trillion in June, becoming the world’s second-largest market capitalization company after Microsoft and Apple at the time.
However, as CNBC points out, the question of who might be the world’s first billionaire has fascinated the public ever since the world’s first billionaire was born in 1916. Rockefeller, founder and largest shareholder of Standard Oil.
Despite this fascination, many scholars still view the accumulation of great wealth as a social evil. One report calculated that the richest 1% of humanity emits more carbon emissions – a major driver of the current climate crisis – than the poorest 66%.
Just days before the Informa Connect Academy named Musk the most likely to become the world’s first trillionaire, a post he made on X sparked a backlash from many of the site’s users.
His post called the interview between former Fox News host Tucker Carlson and podcaster Daryl Cooper, a right-wing media figure, “very interesting.” Worth a look.
Cooper claimed in the interview that when the Nazis carried out the Holocaust and murdered 6 million Jews during World War II, they did not intentionally murder so many people. Instead, Cooper noted that Adolf Hitler’s Nazi regime was simply not equipped to care for them – and the podcaster blamed British Prime Minister Winston Churchill for “making this war what it was.”
Musk eventually deleted his post, and the White House condemned Carlson’s interview with Cooper as a “disgusting and sadistic insult to all Americans.”
The billionaire announced in August that he was supporting Republican candidate Donald Trump as he seeks a second term as president in the November election. Democratic Vice President Kamala Harris also entered the election.
